FTC Group

Accounts Payable Management

Accounts Payable Management

Accounts Payable, by definition is "a current liability account showing the amounts payable by a firm to suppliers for the purchases of materials, stocks, or services on credit". That sounds simple enough, however, in today's super technological world, there are a myriad of ways to make payment to a vendor. There is always the standard check, credit card, wires, ACH, etc... Now, add to that Paypal, Venmo, various crypto currencies, and, if you are in the cannabis space, even cash. There can be many moving pieces that a business owner can't afford to miss. Add to that, the proper processing of vendor invoices and receipts into your accounting system. Depending on the volume of activity, this can be an overwhelming task. Why not outsource this to someone that specializes in handling these tasks in the most effecient way possible?   

Proper processing of a company's accounts payable is incredibly important, as it involves nearly all of the payments from a company, other than payroll. With proper automation and controls, this process can be streamlined to become one less item in your day to worry with.

We offer full service Accounts Payable processing to include:

  • Entry of vendor invoices into various software platforms. Accounting Suite, Bill.com, QBO, and QBD to name a few.
  • Review of other documents to include Purchase Orders and Receiving Documents to confirm accuracy of vendor invoices
  • Processing of employee and/or contractor expense reports
  • Remittance of payments to vendors, based upon client approval, using many different payment methods, such as: online bank bill pay, live check set up to be printed by client, ACH, wire, credit card or through Bill.com.
  • Electronic filing of vendor invoices, via save to QBO/QBD, dropbox, or other remote environment.
  • Vendor relations
  • Processing vendor credit applications
  • Periodic review of Accounts Payable aging reports to ensure timely payment remittance of outstanding vendor invoices

If this is an area your company requires assistance with, complete our contact form to get in touch.